https://www.taxtmi.com/caselaws?id=105774 Adjustment of the price of molasses against licence fee did not prevent the transfer from constituting a sale under the Uttar Pradesh Trade Tax Act, 1948. The Court noted that the statutory definition of sale is inclusive, and Article 366(29A) enlarges the concept for sales tax purposes beyond the classical Sale of Goods Act position. Because the molasses belonged to the transferor, were goods, and were transferred for monetary consideration, the adjustment against an existing liability was treated only as a mode of payment. The arrangement was therefore taxable as a sale, not a barter or exchange. en-us Fri, 12 May 2006 00:00:00 +0530 Mon, 05 Oct 2015 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105774 Adjustment of the price of molasses against licence fee did not prevent the transfer from constituting a sale under the Uttar Pradesh Trade Tax Act, 1948. The Court noted that the statutory definition of sale is inclusive, and Article 366(29A) enlarges the concept for sales tax purposes beyond the classical Sale of Goods Act position. Because the molasses belonged to the transferor, were goods, and were transferred for monetary consideration, the adjustment against an existing liability was treated only as a mode of payment. The arrangement was therefore taxable as a sale, not a barter or exchange. Case-Laws VAT and Sales Tax Fri, 12 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105774